DO NOT APPLY IF: You have had ANY lates in the last 2 years or you have a collection on your account. (per credit analyst I talked to on the phone) 2 years ago is when the crap happened to my credit... so strike one... I have asset acceptance on my ass, and even though it shows as disputed, it is still there... so strike.... you don't need 3 strikes here, only 1
I just applied for a secured HSBC ($300 CL) MasterCard a week ago. Found out that HSBC bought Household Bank (which I have as unsecured) so I might have to drop my Orchard Card. HSBC has some tough criteria, but I should be OK. Have great respect for them and think they could be a challenger to Citibank/Bank of America/Chase someday.
Well, HSBC approved me for a $300CL (secured) just this afternoon. Called them at 800-975-4722 & they gave me the good news. Excellent company. Here are some details on their secured MasterCard product: 19.80% APR, $35 annual fee, 25 day grace, $300-$2,500CL. $29 overlimit fee. And a story about the company (not sure if you can access it, try it out though): http://pmg.gefa.home.ge.com/SpotlightServlet?clipid=530749 Contrary to what you may have heard, Household accounts *will not* auto convert to HSBC. HSBC is keeping the two products separate. Unlike with my Fleet secured card, which will convert over to a Bank of America card once the merger is complete, the same did NOT happen with HSBC+Household.
